Metropol CRB Enhances Credit Access in Nakuru Through Data-Driven Initiatives
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Metropol Credit Reference Bureau (CRB) is revolutionizing credit access in Nakuru, significantly boosting financial inclusion for Small and Medium-sized Enterprises (SMEs) and individual borrowers.
During a recent event, Metropol’s CEO, Gideon Kipyakwai , highlighted the success of the “Credit Community” initiative, which brings together local financial institutions to leverage Metropol’s vast data resources for more informed lending.
Kipyakwai emphasized the value of Metropol’s extensive database, which includes profiles of over 21 million Kenyans and 800,000 businesses, sourced from more than 2,500 institutions.
This data allows lenders to offer tailored credit products based on risk profiles, leading to increased credit access for SMEs and individuals.
“The transition from blacklisting to comprehensive credit profiling is empowering more Kenyans to access loans at favorable terms,” said Kipyakwai .
He noted that the government’s push for risk-based pricing means borrowers with strong credit histories can secure loans at lower interest rates, while those with less favorable records are not excluded but face slightly higher rates.
EdnaMulwa , Metropol’s Chief Data Officer, revealed that the number of individuals in the CRB system has surged to 21 million, with 14 million active borrowers as of June 2023.
She attributed this growth to the rise in mobile loans and overdrafts, which now account for 32% and 34% of all loans, respectively.
Mulwa assured that Metropol’s automated system updates borrower profiles in near real-time, ensuring that individuals who clear their loans see their records promptly updated.
As the credit market in Nakuru and Kenya as a whole continues to mature, Metropol CRB remains committed to supporting financial institutions with the data they need to make informed lending decisions. This, in turn, is expected to stimulate economic growth and entrepreneurship in the region.
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